Key regions: Canada, Spain, South Korea, United States, Japan
The Other Cereal Products Market in Southern Europe is experiencing subdued growth, impacted by factors such as rising health consciousness and convenience of online services. This has contributed to the market's growth rate, which is currently lower than expected.
Customer preferences: The rising health consciousness among consumers in Southern Europe has led to a growing demand for healthier cereal options such as whole grain and gluten-free products. This trend is also reflected in the increasing popularity of alternative grains like quinoa and amaranth, which offer a variety of nutrients and are perceived as more sustainable choices. Additionally, there has been a shift towards on-the-go breakfast options, including cereal bars and single-serve cereal cups, catering to the busy lifestyles of consumers in this region.
Trends in the market: In Southern Europe, the Other Cereal Products Market within the Bread & Cereal Products Market is experiencing a rise in demand for gluten-free and organic options. This trend is driven by increasing health consciousness and dietary restrictions among consumers. As a result, industry players are expanding their product offerings to cater to these preferences. Additionally, there is a growing interest in alternative grains, such as quinoa and amaranth, which are perceived as healthier and more sustainable. This trend is expected to continue, presenting opportunities for companies to innovate and differentiate themselves in the market. It also highlights the importance of understanding and adapting to changing consumer preferences in order to stay competitive in the industry.
Local special circumstances: In Southern Europe, the Other Cereal Products Market of the Bread & Cereal Products Market within The Food market is heavily influenced by the region's strong traditional food culture and the use of high-quality, local ingredients. This has led to a wide variety of unique cereal products, such as Italian biscotti and Greek dakos. Additionally, strict regulations on food labeling and production have helped maintain the authenticity and quality of these products, contributing to their popularity among consumers.
Underlying macroeconomic factors: The Other Cereal Products Market of the Bread & Cereal Products Market within The Food market in Southern Europe is heavily influenced by macroeconomic factors such as consumer spending, GDP growth, and government policies. Countries with strong economic growth and high consumer spending, such as Italy and Spain, are experiencing steady market growth due to increased demand for convenience and healthy food options. On the other hand, countries with weaker economies and lower consumer spending, such as Greece and Portugal, are facing slower market growth due to reduced purchasing power and affordability constraints. Additionally, government initiatives promoting healthy eating habits and investments in food innovation are expected to drive market growth in the region.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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